PROJECT 13: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PROJECT 13
Largest movements
- Tangible fixed assets -€25,764
down €25,764 (-27.4%), from €93,958 to €68,194
of which Furniture and vehicles: -€20,884
- Cash +€15,017
up €15,017 (+22.3%), from €67,387 to €82,405
mainly Depreciation (+€25,764) and Other debts (+€25,197)
- Stocks and contracts -€8,358
down €8,358 (-8.5%), from €98,431 to €90,073
- Tax, wage and social debts -€28,455
down €28,455 (-66.3%), from €42,899 to €14,444
of which Remuneration and social security: -€28,851
- Other debts +€25,197
up €25,197 (+75.5%), from €33,387 to €58,584
- Debts after one year -€15,773
down €15,773 (-24.0%), from €65,780 to €50,007
- Reserves +€5,393
up €5,393 (+5.4%), from €99,266 to €104,660
of which Distributable reserves: +€5,393
- Trade debts -€4,664
down €4,664 (-33.9%), from €13,763 to €9,099
- Purchases and services -€12,156
down €12,156 (-6.7%), from €182,376 to €170,221
- Turnover -€11,060
down €11,060 (-4.9%), from €227,758 to €216,698
- Gross operating margin -€7,765
down €7,765 (-13.9%), from €55,662 to €47,898
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €270,962 | €253,045 | -€17,917 | -6.6% |
| Fixed assets | 21/28 | €94,038 | €68,274 | -€25,764 | -27.4% |
| Tangible fixed assets | 22/27 | €93,958 | €68,194 | -€25,764 | -27.4% |
| Land and buildings | 22 | €54,345 | €49,620 | -€4,726 | -8.7% |
| Plant, machinery and equipment | 23 | €154 | - | -€154 | |
| Furniture and vehicles | 24 | €39,459 | €18,575 | -€20,884 | -52.9% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €176,924 | €184,771 | +€7,847 | +4.4% |
| Stocks and contracts in progress | 3 | €98,431 | €90,073 | -€8,358 | -8.5% |
| Stocks | 30/36 | €98,431 | €90,073 | -€8,358 | -8.5% |
| Amounts receivable within one year | 40/41 | €11,106 | €11,958 | +€852 | +7.7% |
| Trade receivables | 40 | €11,106 | €11,958 | +€852 | +7.7% |
| Cash at bank and in hand | 54/58 | €67,387 | €82,405 | +€15,017 | +22.3% |
| Deferred charges and accrued income | 490/1 | - | €336 | +€336 | |
| Total equity and liabilities | 10/49 | €270,962 | €253,045 | -€17,917 | -6.6% |
| Equity | 10/15 | €105,466 | €110,860 | +€5,393 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €99,266 | €104,660 | +€5,393 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €78,656 | €84,050 | +€5,393 | +6.9% |
| Amounts payable | 17/49 | €165,496 | €142,186 | -€23,310 | -14.1% |
| Amounts payable after more than one year | 17 | €65,780 | €50,007 | -€15,773 | -24.0% |
| Financial debts | 170/4 | €65,780 | €50,007 | -€15,773 | -24.0% |
| Amounts payable within one year | 42/48 | €99,715 | €92,179 | -€7,537 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €9,667 | €10,052 | +€385 | +4.0% |
| Trade debts | 44 | €13,763 | €9,099 | -€4,664 | -33.9% |
| Suppliers | 440/4 | €13,763 | €9,099 | -€4,664 | -33.9% |
| Taxes, remuneration and social security | 45 | €42,899 | €14,444 | -€28,455 | -66.3% |
| Taxes | 450/3 | €12,599 | €12,995 | +€396 | +3.1% |
| Remuneration and social security | 454/9 | €30,300 | €1,449 | -€28,851 | -95.2% |
| Other amounts payable | 47/48 | €33,387 | €58,584 | +€25,197 | +75.5% |
| Turnover | 70 | €227,758 | €216,698 | -€11,060 | -4.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €182,376 | €170,221 | -€12,156 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,129 | €25,764 | -€365 | -1.4% |
| Other operating charges | 640/8 | €2,675 | €2,974 | +€298 | +11.1% |
| Non-recurring operating charges | 66A | €7,007 | - | -€7,007 | |
| Gross operating margin | 9900 | €55,662 | €47,898 | -€7,765 | -13.9% |
| Operating profit (loss) | 9901 | €19,851 | €19,160 | -€690 | -3.5% |
| Financial income | 75/76B | €274 | €1,013 | +€739 | +269.3% |
| Recurring financial income | 75 | €274 | €1,013 | +€739 | +269.3% |
| Financial charges | 65/66B | €4,558 | €2,445 | -€2,114 | -46.4% |
| Recurring financial charges | 65 | €4,558 | €2,445 | -€2,114 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €15,566 | €17,729 | +€2,162 | +13.9% |
| Income taxes | 67/77 | €330 | €2,336 | +€2,006 | +608.4% |
| Profit (loss) for the period | 9904 | €15,237 | €15,393 | +€156 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,237 | €15,393 | +€156 | +1.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.